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Aug 17, 2015

Development firms start construction on south Charlotte apartment complex


Apartment development firm Terwilliger Pappas Multifamily Partners and Federal Capital Partners, a real estate investment firm based in Maryland, have started construction on a 194-unit apartment complex in the Ballantyne area.

Called Solis Ballantyne, the project will be located at the intersection of North Community House Road and Bryant Farms Road, across from the Morrison YMCA. Terwilliger Pappas won a rezoning for the property in January, and Terwilliger Pappas and FCP purchased approximately 7.8 acres at the site earlier this month for $3.4 million from Harris Teeter and an affiliate of The Harris Land Co.

The Harris Land Co., headed by Dee-Dee Harris, purchased 2.1 acres at the very corner of the intersection from Harris Teeter for just over $2 million. That site is now zoned for up to 15,000 square feet of commercial space, and the apartment complex will be located behind it, separated by a new public or private street, according to the site plan approved by the city.